Tech
Tech Earnings, Cryptocurrencies, and Interest Rates: What to Watch
Photo: Tunvarat Pruksachat (Getty Images)
After an unstable week characterized by some economic growth and the intersection of Bitcoin and politics, this week we will focus on what happens next.
A chipmaker that works with Nvidia just posted its highest profit in 6 years
Investors will be closely watching tech giants’ earnings, the cryptocurrency market, and the Fed chairman’s take on interest rate cuts.
Let’s find out what will happen:
Will the Fed lower interest rates?
The Federal Open Market Committee (FOMC) meeting is scheduled for Wednesday and there are signals that the Fed may lower interest rates during the meeting. Fed Chair Jerome Powell will speak after the meeting to announce the decision.
Tech giants to report earnings
Similar to last week, big tech companies will report on their financial health this week. On Tuesday, Microsoft and Advanced Micro Devices will report earnings after the bell, followed by Meta earnings on Wednesday after the close of business. On Thursday, Apple and Amazon will share their report cards after the closing bell.
Other important gains to watch
On Monday, McDonald’s will report earnings before the market opens. Airbus and JetBlue will report earnings on Tuesday, while Boeing will report earnings on Wednesday. Cryptocurrency firms like Coinbase and MicroStrategy will report earnings on Thursday. Berkshire Hathaway’s earnings will come on Friday.
Keep an eye on the cryptocurrency market
It will be interesting to see how the cryptocurrency market will behave this week. This is because former President and Republican candidate Donald Trump’s speech at the Bitcoin conference could have an impact on cryptocurrency prices. In addition, the performance of spot Ether ETFs and the speech by Fed Chairman Jerome Powell could also have an impact on the cryptocurrency market.
Other macroeconomic reports to monitor
The Consumer Finance report and the Jobs Report will be released on Tuesday, followed by the ADP Employment Report on Wednesday. On Friday, the U.S. Employment Report and the Unemployment Rate will be released. These reports will indicate the direction of the economy and whether the Fed is ready to cut interest rates.